Precisely. I am not saying I am perfect as a parent or that this was the best possible approach to the situation we had. Nobody is and perfect parenting is an absolute myth.
I knew full well just how addictive gaming could be because I experienced it in my 20's. Needless to say that the "shock and awe" consequence to their deceit was not the result of a single data point. We had been seeing changes in behavior over time (six months or so). The objective was three fold: Take away the device that delivered the addictive behavior. Take away something of value to them. Make them earn it back with positive behavior.
The decision was not planned and the consequences were not communicated in advance. Few things in life are like that. Sometimes people discover the consequences of their actions (or understand them) when they are sprung on them because of something they did. Drunk driving being one possible (though not perfect) example of this.
In this case, it worked. Perhaps we got lucky. Not sure. I also did highlight that I cannot speak for all parents. I did the best I thought made sense at the time. Based on the outcome, many years later, I can say it worked.
To the critics on this thread: Your mileage may vary. Some of the comments sound juvenile, perhaps you'll understand if you ever become a parent and face similar circumstances. Then see what you think of someone who thinks they know better from behind a keyboard than you did in the moment and without having to be responsible for the outcomes (which is a multi-year commitment).